Cryptocurrency Price Analysis: Uptrend Week
In the last 7 days, the total market capitalization of cryptocurrencies has increased from $2.012 trillion to $2.232 trillion, an increase of about 11%.
The last two days of August and the first week of September were positive for most digital currencies. Some popular cryptocurrencies like Bitcoin traded above the $50k mark, Solana (SOL) rose over 70%, Ethereum (ETH, $3,847) rose over 22%, Polkadot (DOT, $33.13) grew about 33%, and Cardano (ADA, $3.00) rose 15%, XRP (XRP, $1.28) rose 16%.
However, some people from various countries, including Russia, lost interest as some of the most popular cryptocurrencies, including Bitcoin, failed to reach new highs, according to CoinIdol, a world blockchain news outlet.
Since Bitcoin is the biggest dominator in the crypto market, any bear or bull market in Bitcoin affects the rest of the digital currencies in the industry. Bitcoin’s price currently stands at $50,012.65, with a market cap of $929B and trading volume of $39.93B.
This week, the values of major cryptocurrencies have also fallen sharply. In the last 7 days, some of the top 20 virtual currencies by MC recorded bearish market performance. For example, Tether (USDT, $1.00) fell almost 0.05% (the token could not hold above the $1.00 high in the last 7 days), USD Coin (USDC) fell about 0.04%, and Binance USD (BUSD) fell 0.04%.
Top 5 gainers
Still, other cryptoassets managed to withstand the pressure of the market and the industry as a whole. This week’s top performers among all digital currencies worldwide include BAEPAY (BAEPAY, up more than 655%), Presearch (PRE, +605%), W Green Pay (PASTA, +408%), and BiTToken (BITT, +273%).
Among the top 100 cryptoassets on the market, Revain (REV, +101%) proved to be the top gainer, followed by Fantom (FTM, +93%), Arweave (AR, +92.33%), Solana (SOL, +71.58%) and then IOTA (MIOTA, +54.69%).
Top 5 losers of the week
On the other hand, we have seen cryptocurrencies falling over 5% this week. For example, among total cryptocurrencies, PancakeSwap (CAKE) emerged as the biggest loser with a drop of about -7.07%, followed by Llaytn (KLAY, -2.90%), Amp (AMP, -2.82%), Quant (QNT, -1.27%), and Maker (MKR, -1.27%). Fortunately, the decline in these prices is small compared to last week.
Moreover, Manchester City Fan Token (CITY, -37.27%) is the biggest loser among the top 50 cryptocurrencies on the market, followed by SuperRare (RARE, -35.31%), Soda Coin (SOC, -33.47%), Nerve Finance (NRV, -31.66%) and then Constellation (DAG), which is down almost 27.02%.
Manchester City Fan Token has fallen 1.58% in the last 24 hours. CMC is currently ranked 460th with a market cap of $74,596,926. There is a circulating supply of 3,508,140.00 CITY coins and a maximum supply of 20 million.